July 22, 2022
12411300 Canada Inc., which operates two medical clinics located in Mississauga and Brampton, Ontario called Erin Mills Health & Wellness, was placed in receivership on July 22, on application by Triple-I Capital Partners Inc., owed approximately $6.9 million. The company has defaulted on various terms of the Triple-I loan, including by failing to repay the loan on the maturity date, allowing over $50,000 of tax arrears to accrue, and granting a subsequent $2 million charge on the real property from which it operated without Triple-I's prior consent. The company also appears to have abandoned the real property and ceased operations. Crowe Soberman was appointed receiver. Counsel is Scalzi Professional Corporation for Triple-I, Atkinson Law for the company and Miller Thomson for the receiver.
By Dina Milivojevic